Consumption will remain a key driver of growth in the foreseeable future, followed by healthcare, said Vinit Sambre, head of equities, DSP Investment Managers, in an interview with CNBC-TV18 on Friday.

On banking and financials, he said, "If we look at the dispersion within the banking space, there are hugely underperforming banks and financial institutions and within Nifty itself, the top-performing YTD is a non-banking financial company (NBFC) name. So I think it is all to do with how each of these banks has managed the growth qualitatively."

“As we see the scenario today, a lot of the stocks within the smallcap category have corrected down significantly. Many of them have come down to decent levels in terms of the valuations and with that in mind, we had taken a call a few months back to open the fund on systematic investment plan (SIP) basis and if this slowdown continues to hamper the valuations furthermore, we may think to open the fund completely for new flows as well," added Sambre.

“Automobile, auto ancillary building materials or agrochemicals — these for us are long-term structural stories but they are currently being impacted because of the slowdown... hence the valuations there remain attractive,” He mentioned.

First Published:Sept 6, 2019 11:59 AM IST